Morgan Stanley Sells 401,884 Shares of Brookfield Asset Management Inc (BAM)
Morgan Stanley trimmed its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 17.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,911,551 shares of the financial services provider’s stock after selling 401,884 shares during the quarter. Morgan Stanley owned 0.19% of Brookfield Asset Management worth $77,493,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC raised its position in Brookfield Asset Management by 121.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,555 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,402 shares during the period. Squar Milner Financial Services LLC purchased a new stake in Brookfield Asset Management in the 2nd quarter worth about $175,000. FineMark National Bank & Trust purchased a new stake in Brookfield Asset Management in the 2nd quarter worth about $200,000. Timber Hill LLC purchased a new stake in Brookfield Asset Management in the 2nd quarter worth about $201,000. Finally, Cortland Associates Inc. MO purchased a new stake in Brookfield Asset Management in the 2nd quarter worth about $205,000. Hedge funds and other institutional investors own 60.39% of the company’s stock.
Brookfield Asset Management stock opened at $44.12 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.01 and a current ratio of 1.26. Brookfield Asset Management Inc has a 1-year low of $37.22 and a 1-year high of $44.39. The stock has a market capitalization of $43.90 billion, a P/E ratio of 16.51 and a beta of 1.05.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.36%.
A number of analysts recently weighed in on BAM shares. BMO Capital Markets started coverage on shares of Brookfield Asset Management in a research report on Thursday, September 20th. They issued an “outperform” rating and a $54.00 price objective on the stock. Scotiabank reissued a “buy” rating and issued a $50.50 price objective on shares of Brookfield Asset Management in a research report on Tuesday, August 7th. Finally, Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Brookfield Asset Management currently has a consensus rating of “Buy” and a consensus price target of $50.50.
About Brookfield Asset Management
Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.
See Also: What are the Benefits of Index Funds?
Want to see what other hedge funds are holding BAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A).
Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.